Energa’s shareholders will receive nearly PLN 600 million of dividend

Energa will pay out dividends already on 21 May: shareholders will receive PLN 1.44 for each share they hold in the company. Today’s General Meeting adopted a resolution to pay out 92 percent of the individual net profit for 2014, i.e. PLN 596,256,644.16. The dividend rate as at the opening price of 29 April, i.e. the AGM, amounted to 5.4 percent. 

According to the recommendation of the Energa SA Management Board, the Company’s General Meeting made a decision to earmark PLN 596,256,644.16 from the individual 2014 profit in the amount of PLN 650,538,620.29 for dividend. Shareholders will receive PLN 1.44 per share. The dividend record date is 7 May, and the dividend payment date is 21 May.

This year the Management Board resolved to recommend to the shareholders distribution of higher dividend than it follows from the dividend policy presented in the company’s prospectus. The Supervisory Board issued a positive opinion on the motion approved today by the Energa SA General Meeting.

Energa is pursuing an ambitious dividend policy. Already last year approx. 83 percent of the individual net profit was earmarked for dividend. Last year’s bonus was PLN 1 per share and in total PLN 414 million was paid out to shareholders.

In 2014, Energa SA’s individual net profit amounted to PLN 650,538,620.29 and was 30 percent higher than the year before. The Energa Group recorded the highest annual results in history: net profit exceeded 1 billion zloty, EBITDA, 17 percent up, amounted to PLN 2.3 billion, and revenues to approx. PLN 10.6 billion. This was yet another improvement of the Group’s financial performance over the past few years. Since 2010 profit and EBITDA improved by over 60 percent and revenues by 12 percent.